once again:
EURUSD Long @ 1.2923, Target @ 1.2990
EURUSD Long @ 1.2923, Target @ 1.2990
GRANDPA of MM - Stake 100% EQUITY with 100% SAFETY 3 replies
100$ -->100,000$ (period: 12 months) 207 replies
Gutenberg money printing machine.. 100 to 1.000 to 10.000 to 100.000? 15 replies
HVR 6/100 and 10/100 with a 50% ratio 0 replies
100 pip STOP for a 100 pip Target 7 replies
DislikedActul Order Book -672.42$ When I trade my plan it needs more discipline to stay in all my trades nowadays and wait and I'm not willing to delete these loss orders! It seems actually more a question of risk tolerance IMO. I prefere this way of trading. EURUSD, Monthly, 2013 Mai 19 {image} {image}Ignored
Don't cry over spilt milk!
The last maximum about 2'568.61$ should be recover next week, so I hope I could go on to hit the 3'000.-$ line next month.
If I would reach the 100% Profit Zone in June 2013 maybe I will distribute profits 3'000.-$ > to other accounts till December 2013.
I think about it.
FXcube
Disliked{quote} you may like this article.............i am watching how things play out with the Japanese Govt Bond market http://www.forexlive.com/blog/2013/0...n-hedge-funds/Ignored
Disliked{quote} Post# 462 Hi roro53!I like your statements so much. What a pity that I haven't continued the Member's Lounge Hodgepodge & Life Trading in the hope to read more of your wonderful ideas & splended comments.FXcubeIgnored
Disliked{quote}Thanks.. Rob.. will read with interest..would be interested to hear your thinking on USD??Best dan.. PS.. who is this Kyle Shortland.. should i watch him..or should i say listen to what come out of his mouth?? post month chart USDX... similar on week and day.. {image}Ignored
Disliked{quote} getting back into a flow so i'll be around here too if that is all right with you, Cube. thanks for the kind words, always my friendIgnored
Yes, indeed!
Why, certainly!
You're wellcome!
FXcube
Disliked{quote} getting back into a flow so i'll be around here too if that is all right with you, Cube. thanks for the kind words, always my friendIgnored
Disliked{quote} Post# 434The last maximum about 2'568.61$ should be recover next week, so I hope I could go on to hit the 3'000.-$ line next month.If I would reach the 100% Profit Zone in June 2013 maybe I will distribute profits 3'000.-$ > to other accounts till December 2013.I think about it.FXcubeIgnored
to fall to work on a new fancy
Manage a 1'500.-$ Account like a "Forex-Pension-Fund"
Trading Plan!
2013 1'500.-$ > 3'000.-$...(to take one's choice)
2014 3'000.-$ > 6'000.-$...(by one's own choice)
2015 6'000.-$ > 12'000.-$...(to get one's sh*t together)
2016 12'000.-$ > 25'000.-$...(to get one down onesefl)
2017 25'000.-$ > 50'000.-$...(join the club!)
2018 50'000.-$ > 100'000.-$...(one's ears are burning)
2019 100'000.-$ > 200'000.-$...(but they are all rather proud of what they have achieved)
2020 200'000.-$ > 400'000.-$...(to have one over the eight)
2021 400'000.-$ > 800'000.-$...(but in my own way, I am king)
2022 800'000.-$ > 1'600.000.-$...(to have one's bread buttered on both sides)
...
2030 ...(to have one's head in the clouds)
Surpluses will transfered to other accounts and/or should be appropriate for shares & stocks or so.
Allocate profits
Beginning in 2016 new accounts should be created due to security reasons.
Let's see!
FXcube
Fibonacci Retracements
Fibonacci retracements are excellent tools for calculating the scope of a retracement. They are most widely used in the foreign exchange market, but are also used in the stock market. To use them, simply use the Fibonacci retracement tool (available in most charting software) to draw a line from the top to the bottom of the latest impulse wave.
http://i.investopedia.com/inv/articl...cements_2r.gif
Figure 3: An example of the Fibonacci retracement tool.
In most cases, retracements will stay around 38.5% (daily) or 50% (intraday). If the price moves below these levels, then a reversal may be forming.
SEE: Top 4 Fibonacci Retracement Mistakes To Avoid
Pivot Points
Pivot point levels are also commonly used when determining the scope of a retracement. Most traders look at the lower supports (R1, R2 and R3) - if these are broken, then a reversal may be forming.
Trendline Supports
Finally, if major trendlines supporting the larger trend are broken on high volume, then a reversal is most likely in effect. Chart patterns and candlesticks are often used in conjunction with these trendlines to confirm reversals.
Dealing with False Signals
Even a retracement that meets all the criteria outlined in our table in Figure 2 may turn into a reversal with very little warning. The best way to protect yourself against such a reversal is to use stop-loss points. Here is how you can do this:
1. You can estimate retracement levels using technical analysis and place your stop-loss point just below these levels.
2. Alternatively, you can place the stop-loss just below the long-term support trendline or moving average.
Ideally, what you want to do is lower your risk of exiting during a retracement, while still being able to exit a reversal in a timely manner.
The Bottom Line
As a trader, you need to be able to differentiate between retracements and reversals. Without this knowledge, you risk many things such as exiting too soon and missing opportunities, holding onto losing positions and losing money and wasting money on commissions/spreads. By combining technical analysis with some basic identification measures, you can protect yourself from these risks and put your trading capital to better use.
___
*see above!